Abstract“Property, Real Estate & Development” (MIC: SIC: 6798 NAIC: 525930)Tanger Factory Outlet Centers is a fully‐integrated, self‐administered and self‐managed real estate investment trust that focuses on developing, acquiring, owning, operating and managing factory outlet shopping centers in the U.S. As of Dec 31 2007, Co. owned 29 outlet centers, with a total gross leasable area (GLA) of approximately 8.4 million square feet. These factory outlet centers were 98.0% occupied and contained over 1,800 stores, representing approximately 370 store brands. In addition, Co. owned a 50.0% interest in two outlet centers with a GLA of approximately 667,000 square feet.